The groups will advise the bureau on consumer financial issues and emerging market trends. No ARM industry representatives were named to the committees.
9/23/2021 8:00
Consumer Financial Protection Bureau Acting Director Dave Uejio announced the appointment of members to the Consumer Advisory Board (CAB), Community Bank Advisory Council (CBAC), Credit Union Advisory Council (CUAC) and Academic Research Council (ARC). These experts advise bureau leadership on a broad range of consumer financial issues and emerging market trends, according to a news release from the CFPB.
Notably, no representatives from the accounts receivable management industry were chosen for the committees.
The CBAC and CUAC advise and consult with the bureau on consumer financial issues related to community banks and credit unions. The ARC advises the bureau on its strategic research planning process and research agenda and provides feedback on research methodologies, data collection strategies, and methods of analysis, including methodologies and strategies for quantifying the costs and benefits of regulatory actions.
Appointments to the committees are generally for two years.
See the CFPB’s complete news release for a list of the new members.